So if our phones can help us do our banking, can they help us create and stick to our budgets? The answer is yes they can, and PCMag.com explains there is a “wealth of financial apps on the market, most of them free, giving you plenty of options for learning how to be more responsible with your personal finances.” According to the leading tech blog, “some of the most popular and well-known personal finance apps work on the premise that better money management comes through centralization and visibility. If you can see, at a glance and in one place, where all your accounts and spending habits stand, you’ll be better equipped to make better decisions to stay within your budget.” So with this in mind, we take a look at the budgeting apps that are the most effective when it comes to creating a budget and more importantly – sticking to it.

Banks and banking services have embraced the benefits of mobile technology ever since the smartphone revolution. With fast Internet and even faster software developments making digital banking even easier, mobile phones have become the quickest, simplest way to access your money. Will Thomas from Eccount Money commented that “banks have had to improve mobile banking services simply because mobile banking is the key to their survival” but he adds, “however, just because you can check your balance on your phone doesn’t mean you’ll have more control over your finances. Consumers are experiencing escalating living costs and frozen wages which together means life is getting very expensive. Even the most savvy saver should have a budget these days.”

5. Extreme Budget Planner – iOS – £1.79

There are plenty of free apps available to help you manage your money, but this app costs to use because it is simply so jam-packed full of features. The Extreme Budget Planner has a variety of calculators and impressive graphical displays that help you do your sums and better understand your financial situation. Perhaps a little too feature-laden, this app is for only for the very serious budgeter who needs to know and be able to visualise and analyze every detail, Check Here

4. Homebudget – Android and iOS – £2.99

This app is a little on the high side as well. However, the Homebudget app provides excellent value for money according to many professional reviews. By entering your earnings and expenses you can view graphical breakdowns of how your money is performing and where you’ll be, financially speaking, up to 6 months in advance. This app can be synced up with other family members too, so that you and your partner can be kept up to date with health of your combined finances.

3. iAllowance – iOS – £2.99

This app is ideal for younger people, from children up to teenagers. The iAllowance app, while costly, is perfect for parents who want their kids to learn how to manage their pocket money. With a charming design and kid-friendly interface, kids can accumulate money, or stars, via a regular allowance or by doing chores. When they want to take money out, you simply debit their account on the app and give them the money. Aimed at slightly older children, this app is great for helping young people get used to cashless money management, Check out here.

2. YNAB: You Need a Budget – Android and iOS – free

This used to be a paid app, but since March has become free. helps you strike a balance between what you make and what you spend, and is an incredible all-around tool to help you get your financial house in order.” With its rules for best budget practice, YNAB advises users to live on last month’s paycheck, they insist you give every pound a job, the app suggests that you save for a rainy day and finally, to not give up if things don’t go perfectly at first. This is a great tool for anyone who wants to try a budget for the first time.

1. Mint – Android and iOS – free

The Mint app is considered by all review websites as being the best app for managing a budget. The programme lets you keep track of all your bank accounts, including credit card accounts and savings. The only down side is the time it takes to enter in the relevant information, but once that is out of the way Mint will track your spending and create suggested budget plans. If PCMag.com’s beliefs that the best apps work by providing clear and centralized information, then the Mint app should work a treat.